Lexington KY Rental market

[Brandon Castillo]

Hi everyone,

I just bought my first duplex and plan to househack and rent one side out! I was wondering if anyone has any idea what the rental market is like in Lexington KY. How is everyone’s rentals doing? My duplex is by the summit and I am hoping to rent out one side that has 2bed/1bath for about $775 a month but as my first one, I don’t know if that is a good price point or if I need to go higher or lower.

Also was wondering how timing might affect how long it takes to get someone in to rent as it will not be available until mid-october!

Thanks!

[Matt Bailey]

Congrats @Brandon Castillo

Agree with @Jonathan Pliszka to screen wisely

Rentometer is a good source for getting a rental estimate. They have where you can get so many estimates free for so many days.

Facebook market place is a good source to see what rents are.

One of my hacks that I've used is to create a Facebook market place listing with 1-2 pics of your property with the rent goal you'd like to see if the market supports it.  I've used this when thinking of buying in areas where there is little rent data and had good success gauging the market.